Registration and Post-Registration: Rapid Fire

What this video covers

• Why Form U4 is filed by the firm, not the agent, and why the irrevocable consent to service of process survives even after termination or quitting the industry
• The exact effective date of registration (noon on the 30th day after filing) and the universal December 31 expiration that applies regardless of when during the year the agent registered
• Why agents carry zero net capital or financial requirements, and the sole exception where custody or discretion over client funds can trigger a bond requirement
• What the triple notification rule demands when an agent switches firms, and why failure by any of the three parties (agent, old firm, new firm) is a separate violation
• When a correcting amendment is mandatory on Form U4, including the critical distinction that a felony charge alone triggers it, not just a conviction
• Why disciplinary action requires both a public-interest finding and a statutory ground, while cancellation requires neither, and why failure to supervise reaches only the broker-dealer, never an individual agent
• The exact withdrawal timeline (30 days to become effective), the 1-year post-withdrawal window for willful violations, and why a summary order is triggered by a pending proceeding, not an emergency